KLYDO LIMITED

2019-08-012020-07-312020-07-31false09689396KLYDO 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KLYDO LIMITED

Registered Number
09689396
(England and Wales)

Unaudited Financial Statements for the Year Ended
31 July 2020

KLYDO LIMITED

Company Information


Registered Address	6 St. Thomas Road
	London
	N14 6AJ

KLYDO LIMITED

Balance Sheet as at
31 July 2020

	Notes	2020 £	2019 £
Fixed assets
Tangible assets	3	7,245	7,881
Current assets
Debtors	4	197,365	140,641
Cash at bank and on hand		387,652	786,991
Creditors amounts falling due within one year	5	(20,881)	(21,201)
Net current assets (liabilities)		564,136	906,431
Total assets less current liabilities		571,381	914,312
Net assets		571,381	914,312
Capital and reserves
Called up share capital		268	268
Share premium		1,101,771	1,101,771
Profit and loss account		(530,658)	(187,727)
Shareholders' funds		571,381	914,312

The company is a private company limited by shares and registered in England and Wales. It was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 16 August 2020, and are signed on its behalf by:

SCHWEITZER, Nicholas Jack
Director
Registered Company No. 09689396

KLYDO LIMITED

Notes to the financial statements
for the year ended 31 July 2020

1.	COMPLIANCE WITH APPLICABLE REPORTING FRAMEWORK
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

		Straight line (years)
	Office Equipment	3

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Foreign currency translation and operations policy
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation and operations policy

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Employee benefits policy
	Contributions to defined contribution plans are expensed in the period to which they relate.

2.	EMPLOYEE INFORMATION

		2020		2019
	Average number of employees during the year	7		5

3.	PROPERTY, PLANT AND EQUIPMENT

		Total £
	Cost or valuation
	At 01 August 19	9,367
	Additions	3,430
	At 31 July 20	12,796
	Depreciation and impairment
	At 01 August 19	1,486
	Charge for year	4,066
	At 31 July 20	5,552
	Net book value
	At 31 July 20	7,245
	At 31 July 19	7,881

4.	DEBTORS
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

DEBTORS

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	2020 £	2019 £
Trade debtors / trade receivables	43,600	73,530
Other debtors	140,205	54,375
Prepayments and accrued income	13,560	12,736
Total	197,365	140,641

5.	CREDITORS WITHIN ONE YEAR
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	2020 £	2019 £
Trade creditors / trade payables	15,578	12,255
Taxation and social security	2,803	8,946
Accrued liabilities and deferred income	2,500
Total	20,881	21,201